Rithm Capital Corp. Announces Quarterly Dividend of $0.25 (NYSE:RITM)

Rithm Capital Corp. (NYSE:RITM) announced a quarterly dividend on Friday, March 21st, RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.25 per share by the real estate investment trust on Wednesday, April 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.78%. The ex-dividend date of this dividend is Monday, March 31st.

Rithm Capital has increased its dividend by an average of 3.6% annually over the last three years. Rithm Capital has a dividend payout ratio of 48.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Rithm Capital to earn $2.06 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 48.5%.

Rithm Capital Stock Performance

RITM stock opened at $11.39 on Friday. The stock’s 50 day simple moving average is $11.69 and its 200 day simple moving average is $11.23. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74. Rithm Capital has a 12-month low of $10.38 and a 12-month high of $12.20. The stock has a market capitalization of $5.93 billion, a PE ratio of 6.82 and a beta of 1.83.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. As a group, research analysts forecast that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on RITM shares. Wedbush reiterated an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research note on Friday. JMP Securities reissued a “market outperform” rating and issued a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. Keefe, Bruyette & Woods boosted their price target on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Piper Sandler increased their price objective on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Finally, B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $13.25.

About Rithm Capital

Rithm Capital Corp. operates as an asset manager focused on real estate, credit, and financial services. It operates through Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable, and Asset Management segments. Its investment portfolio primarily comprises of mortgage servicing rights (MSR), and MSR financing receivables, title, appraisal and property preservation, excess MSRs, and services advance investments; real estate securities, call rights, SFR properties, and residential mortgage loans; consumer and business purpose loans; and asset management related investments.